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Artificial Intelligence Changing The Industry Norms

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Artificial Intelligence Changing The Industry Norms

Artificial Intelligence sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals. Computer science defines AI research as the study of “intelligent agents”: any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals.

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More in detail, Kaplan and Haenlein define AI as “a system’s ability to correctly interpret external data, to learn from such data, and to use those learnings to achieve specific goals and tasks through flexible adaptation”. Colloquially, the term “artificial intelligence” is applied when a machine mimics “cognitive” functions that humans associate with other human minds, such as “learning” and “problem solving”.

The myth that has evolved inside the heads of 19th-century fiction writers are turned up as a reality in front of us. The thinking machines are more than reality now as we experience it every day.
Artificial intelligence is a term that excites and equally embarrasses the world at the same time. Developing an artificial intelligence to sense, think and act is solely intended to ease the human effort by far.
the expected worth of AI market is 7,35 billion US dollars, According to the latest study conducted by statista It reflects the clear impact of AI in our market.

The very reason behind its progressive move is its powerful impact industry-wide which calls for everybody to get acknowledged by an Introduction to Artificial Intelligence as it is the present and it is the future. the technology already sets its footprints in almost all sectors of our society.

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Artificial Intelligence Impact

Business is the most fortunate vertical blessed by Artificial Intelligence. Foreseeing the prospects of business progress with the aid of Artificial intelligence, tech giants are planned and charted priorly.
To illustrate, let’s check on of the very familiar search engine -Google to examine the application of Artificial Intelligence in business and how it is revolutionizing our industries

Suppose, we are searching for the best dish around the town. Google lists out a long chart of delicious platters before us. Thus, we select the dish we love to taste and the delivery boy rings the bell within few minutes and serves the dish. All set and good, finished the food with a burp.

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The day has passed, and at the same time, while surfing on our 5-inch phone, the same dish popped out on the screen with more exciting taglines and offers. Here is the role of Artificial Intelligence that comes to the stage.
RankBrain– an AI-enabled algorithm of Google that was observing all our likes and dislikes. Collecting our past search results and combine it with the machine learning codes and strings, it showcases all the related interesting factors in front of us. And all this is done with a motive to turn a lead into a business.
For more understanding, I would like to list out some industrial sectors and how they are benefited by Artifical intelligence.

#1 Retail Sector
Scrolling down for our favorite color t-shirt have you ever noticed a list of suggested similar products popping up on the website. If you come across that, this is what Artificial Intelligence brings in front of you giving multiple options based on your behavior.

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We can see the same kind of marketing strategies embedded with Artificial Intelligence all around in e-commerce industry. However, AI is doing it through a lot of analysis and comparison process. The predictive capability of AI improves the chances of business through these sort of additional suggestion methods in the retail business sector.
In fact, it does not have any adverse impact on the employment sector, technically, it improves the chances to grow further.

#2 IT Service Management
Since the advent of Artificial Intelligence, it is said to be a honeymoon period for the IT service sector at least often. Artificial intelligence is serving as an effective troubleshooting tool for most of the IT issues. So, embedded with the IT tools and services it eases out the strenuous jobs of the tech experts downright.
IT hassles are more than a headache for every business all the way.

The tedious and circuitous process to figure the point of issue and resolve it from the start has been resolved with the help of AI by far. It is expected to gain around 121 US$ from enabling AI in customer management services around the world, says a survey did by statista.

#3 Travel Industry
Since a few years back what would we require to plan prior to a trip abroad or another town? Are you remembering?
Tedious it was, the fear of price variances, unawareness of the market trends and currency rates, unsure climatic conditions made it really insecure.
However, AI has turned the whole story more thrilling and made travel exciting and affordable. It helped to preplan everything with accurate data and information.
Analyzing our taste and interest Ai help to choose what excites us in a place and which taste we like to have and makes licking out finger

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#4 Media

Artificial Intelligence has made tremendous changes and progressive alteration in the media industry. It has changed the entire mode of communication and virtual media more real and accessible. Suggesting more interesting and remembering our favorite shows AI is more active to entertain us.
Further, it has revolutionized the concept of VR and AR and helped the app developers to infuse more user experience features. The regular analysis of our frequent searches and history of interest are sequenced together to deliver the tailor-made customer recommendations.

#5 Platform Work Industry

Platform work is a new industry emerged over the last decade. We all know how the delivery guys are reaching our doorstep with the help of the internet, location services, and communication strings they work together to fulfill our requirement.

Any work mostly depends on the internet and using internet-enabled tool to complete the job that comes under platform work.

The role of AI in this sector is far and wide, they help business providers and the users by far, connecting new business leads and recommending the end customers about the real figure and data for searching subjects etc.

So, what do you think about this? Simply share all your views and thoughts in the comment section below. For the latest tech,social media news and reviews, follow firebebble.com on Twitter, Facebook and Instagram

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